Life insurance settlements - Sell a life insurance

Life Settlements! Selling a life insurance policy!

The Life Settlement is the sale of a life insurance policy to a third party in exchange for a cash payment exceeding the monetary value of this policy made - even if it does not exist! This is also called as Life Insurance settlement, Insurance settlement or Senior settlement.

This innovative real estate and estate planning tool removes the burden of expensive insurance premium payments in addition to providing the lump sum cash payment. This allows policy holders to get cash from their life insurance policy, in an amount greater than the monetary value of the policy (if applicable), while they are still alive. To obtain the highest life settlements is to improve the quality of life during their retirement years.

Life Settlement: When an individual who has a terminal or chronic illness sells a policy for other reasons, including changed needs of dependents, wanting to reduce premiums and cash for meeting expenses, which is known as a life settlement .

Viatical settlement: When an individual with a terminal or chronic illness sells his life insurance policy that is known as a Viatical settlement.

So far, elderly seniors with life insurance policies do not need or can not afford to keep up have had little option. They allow the policies lapse or sell them to their insurers. Now many of them are happy to have an alternative buyer. Customers may now be able to sell their policy for far more than the cash surrender value the insurance company would offer.

The life insurance policy owner sells its contractual rights under the policy to its current market value in exchange for a lump sum cash payment, which payment exceeds the surrender value of the policy. The buyer of the policy will then become the new owner and beneficiary of the new policy and is therefore responsible for making all future premium payments. The new owner now collects the full amount of the death benefit when the insured's death.

Insurance life settlement or life settlement present a unique opportunity for the insured to extract the most value from an existing policy of life insurance and use those funds for whatever financial needs may exist.

Customers often ask if there are restrictions on what the cash can be used for. The answer is that there are no restrictions whatsoever on what the cash can be used for. They can use the money to buy new insurance, travel the world, start a business, buy a property or fulfill their dreams. The money is theirs to enjoy and easily use it for any reason you can think of. In fact, seniors can use the cash payment for medical expenses, living expenses, or whatever they want - without any restrictions.

There are various reasons why people sell their life insurance policy.

Why sell a life insurance policy?

1. If you are chronically ill, to sell your existing life insurance policy provides funds to cover the financial burden caused by his illness. A Viatical settlement gives the ability to retrieve needed financial security.

2. If you are over the age of sixty-five, a life settlement maximizes the current resources by eliminating premiums and getting funds to be used today.

3. Pay debts

4. Making funds available for other investments

5. Turn a lapse insurance policy into cash

6. Pay your medical bills

7. Finance your retirement

8. If you are a company, the sale of life insurance companies, property allows you to recover back the premiums paid for policies no longer necessary.

9. If you are a non-profit organization, the sale of a talented life insurance policy provides funds that can be used now and also eliminates premiums.

10. If the management of a property, sell your existing life insurance policy, to help manage changes in estate size, eliminate premiums, and liquidate policies that are no longer needed.

11. If you are over 21 with a potentially fatal disease?

How much money do you get when customers sell their life insurance policy?

The value of a bill is determined by a number of factors, including, but not limited to,

1. Nominal value of the policy

2. The age and condition of health

3. Estimated mortality of the insured

4. Loans against the policy

5. Rating of insurer

6. Present value of the policy

7. Type of official interest rates and prevailing

8. The net benefit of death

9. Payment of premiums required to maintain the policy in force

Typically, a life settlement is about three to five times the surrender value of the policy.
What life insurance policies qualify?

To find out if you qualify, here are some of the requirements.

(A) Must be at least 65 years of age

(B) The nominal value of the policy is at least $ 50,000

(C) The insured has experienced deterioration in health since the insurance policy is issued, life expectancy is less than 15 years

(D) The insurance policy is in force beyond the period of two years contestable

But any policy owner, including individuals, corporations, charities or trusts, may sell any life insurance policy, including policies and group life.

What types of policies are purchased?

1. Government has issued policies

2. Term Life

3. Universal Life

4. Political survival

5. Many types of group policies

6. Corporate Owned Life Insurance

7. Lifetime

8. Basically all types of life insurance policies

Http://Financial-Ease.com experts help you achieve the highest value for life insurance policies of their insurance clients. Their goal is to get the highest price for your life insurance policy. Their mission is to serve customers with the highest offers with honesty, integrity and confidentiality and to obtain fast closings and payments

The liquidation value of life could potentially be much higher than the cash settlement of your life insurance policy. Do not continue to pay expensive premiums for coverage you no longer need, and not surrender the policy or let it lapse. The Life Insurance Settlement solution is typically the Win-Win scenario that you are looking for ....